A Controversial Accusation
Yesterday, Maartunn took to X (formerly Twitter) to report that Larsen had transferred 50 million XRP — worth roughly $120 million — from his personal wallet. According to him, while small investors continue to hold their tokens, the Ripple Chairman was quietly cashing out and offloading his holdings.
This isn’t the first time Maartunn has tracked Chris Larsen’s on-chain movements. Back in July, he alerted the community when Larsen moved 200 million XRP across four transactions, suggesting that the Ripple co-founder was “using retail investors as exit liquidity” and warning holders to tread carefully.
XRP Community Fires Back: “This Isn’t a Sell-Off”
Soon after the claim went viral, leading XRP community figures stepped up to refute it.
Prominent member Vet argued that critics were jumping to conclusions without understanding the true purpose behind Larsen’s transfer.
Pro-XRP legal expert Bill Morgan also clarified that the 50 million XRP in question was transferred directly into Evernorth, the world’s largest XRP treasury company. Morgan reaffirmed his confidence in XRP’s long-term value, saying he continues to hold his tokens.
The Truth Behind the 50M XRP Transaction
In reality, the transfer took place right after the public launch of Evernorth, the first and largest XRP treasury company in the world. Formed through a partnership with Armada Acquisition Corp II, Evernorth aims to raise $1 billion in capital from major investors, including Ripple and SBI Holdings.
Most of the funds will be used to purchase XRP from the open market and store the tokens within the treasury. Chris Larsen publicly announced that he would contribute 50 million XRP to support the project.
Before the transfer took place, Larsen had already informed the community that a large XRP movement from his wallet was imminent — clarifying that it was an investment in Evernorth, not a sell-off.
Nonetheless, hours after the transaction, Maartunn continued to claim that Larsen was “cashing out” while retail investors were “left holding the bag.” Yet prior statements from Larsen and subsequent announcements from Evernorth have made it clear: this was an investment move, not a liquidation.
